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Towards peace of mind Business Breif Schwing Stetter India joins hands with US-based Gomaco Ridley marathon to India A global plastic event in India Illicit markets a concern to growing economy Industry-well poised to invest on expansion Research needs more funding Bridging the skill deficit in pharma industry OBO Bettermann for better lightning protection Chennai will soon get its World Trade Centre TII-challenging year with flat growth ALL-two launches in a row ALL – truck industry is recovering from degrowth Secured NCDs from Shriram City Digital retail transactions stabilise at higher level… Indigo stays leader with 40 per cent share More gensets and diesel engines from TAFE Connecting the unconnected Creating Tamil Nadu Banana brand Chola MS launches motor app Business Briefs Murugappa- a year of consolidation Gem of social service... Dynamic e-commerce scenario Need to focus on ease of doing business... Waste, a gold mine Hero Motocorp - smooth ride Holiday Inn opens in OMR Chennai Downsizing spree... LVB gears to become a financial supermarket Four daughters and a proud father World labour laws at a glance Placing the right shoe forward... ECGC expands operations - Celebration time at MS Chola Indian Bank – global businesses crosses Rs 3 lakh crore... An aerospace-defence cluster in Tamil Nadu… Housing Innovation Challenge, 2015 Techies trip to India Pharma market dozes AirAsia India infuses funds to fight out competition Chola MS net crosses 100 crores TII’s single largest investment at Thiruthani Airlines wage price war Smart controls for cooling large multi-zone spaces ... Time to fast-pace the logistics sector Hyundai excites again Nigeria comes nearer Applauding enterprise... CUB: towards card-less withdrawal Blue Star plans a new plant in south STFC raises money Celebrating 180 years of relevance Durga - India’s largest blast furnace; now operational SumInfra- corridor based development... European crisis is a global crisis! WABCO’s second Chennai plant Apple maps – finding its way Backpack laboratory Nothing to hide... Big-ticket investments march towards Punjab Chennai to get a roundabout Metro ISRO's 100th mission Climate change may change the way businesses work... Carrefour’s quick exit The new look- 4s Verna Strategy war escalates between Hero and Honda Rating of states to be released soon Focus on self-certification and third party inspection Automotive Vision Plan II... When Centre visits the state Scoot offers just Rs.13,500 to ANZ... TCS’ revenues cross Rs 100,000 crore People Flow Day- Safety Chennai Port is at last decongested! Veritas Finance- financing the unfinanced Economic issues take a back seat at G20 summit Well-refined – RIL’s refinery margins zoom Steel loses its sheen Tata Steel commence operations at Kalinganagar Purdue and IIT-M sign the dotted line Flexible labour laws… Innovation that helped Chennai port TN budget pragmatic and moderate on fiscal deficit Auto test tracks launched at GARC Oragadam campus Sun Edison launches solar pumps Changing dynamics in human resource management Economic, business and social sustainability Make way for the new and dynamic railways TiE applauds innovative entrepreneurs Reality bytes An American alliance in the chemical industry? Brand leaders come forward... TOP 10 CEO Compensation Curbing steel imports will hurt small business... Adding Zest to Scooty On the ‘milky’ way Realising double digit growth in Tamil Nadu Inclusive and forward moving... Realty sector takes a break... BRICS development bank TVS Logistics – another acquisition to sharpen the business model Investor friendly Japan Striking cords for 25 years… Three more leather clusters… IFCI to raise NCDs upto Rs 2000 crore Is Indian telecom industry heading for a monopoly? ALL to launch electric busses
 
Reality bytes

There were times, not long ago, when prices of land and apartments went sky rocketing. Thanks to the Chennai floods and a tight liquidity situation, prices have dropped and settled down to quite realistic rates. Today, Chennai real estate has become a buyer’s market.

The real estate industry has an inventory between 45,000 and 60,000 units in the city and its suburbs. That is, almost no sales has been made in a year and a half. Understanding this trend, several builders are either heavily investing in marketing or giving away built spaces at rates that may come.

VGN builders had offered apartments in Guindy, the heart of Chennai at about Rs 6500 per sq ft against the price of Rs 10,000-Rs 13,000 per sq ft in the area. To bring in liquidity, developers are giving away some of their land parcels as plots. Buyers in the city have preferred plots. The multi-storeyed trend caught quite recently. Hiranandani, TVH, Olympia and Akshaya, a few of the reputed builders, have charted forth this path. Giving away as plots relieves the builder of constructing an apartment and encountering delays and price fluctuations.

Big ticket builders have moved to Chennai.  A slew of buildings are coming up on the peripheries of Chennai.

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